Personalis

The company is selling more than 3.9 million shares at $38 per share and has offered underwriters an option to add additional shares under the same terms.

The company brought in $20.2 million during the quarter, driven by strong biopharma revenue, with orders increasing for both its core services and new liquid biopsy offering.

Oppenheimer downgraded the company's shares to Perform from Outperform on Friday, based on valuation and expected headwinds from the pandemic.

The company priced about 6.6 million shares of its common stock at $19 per share, and is offering underwriters an option to purchase additional shares from a selling stockholder.

The company's Q2 revenue growth was driven by a 74 percent increase in revenues from the analytical services it provided to the VA MVP program.

Personalis said that it plans to form a wholly owned subsidiary in Shanghai, including a laboratory for local customers to use its ImmunoID NeXT platform.